During the last decade, in Dutch Law Schools, in the field of private law (including corporate and insolvency law), gradually an emphasis has been placed on empirical legal studies. Traditionally, the nature of the study of law is rather descriptive (what is the law?) and normative (what should it be?). Empirical legal science mainly concerns the consequences of the application… Read More »2020-07-doc4 Making sense of business failure
Once a pioneer of Indian aviation, Jet Airways (India) (Jet Airways) completely ceased its flight operations on 17 April 2019, attracting international concern. Legal hardship started for the debt-laden airline on 21 May 2019 when the Dutch Noord-Holland District Court placed the company, which had an establishment at Amsterdam Schiphol airport and its corporate seat in Mumbai, into bankruptcy (faillissement).… Read More »2020-07-doc1 Jet Airways Insolvency Protocol
A major achievement in Asia in the first half year of 2020 was the publication of the Asian Principles of Business Restructuring. It is the result of a study undertaken by the Asian Business Law Institute (ABLI) and the International Insolvency Institute (III), and I have been reviewing closely its development as a member of its Advisory Committee. With this… Read More »2020-06-doc5 Asian Principles of Business Restructuring.
Today I have given feedback to the report ‘A new Vision for Europe’s capital markets’, the Final Report of the High Level Forum (HLF) on the Capital Markets Union (CMU), published 10 June 2020. For the report, see https://ec.europa.eu/info/news/cmu-high-level-forum-final-report_en. For my full 7 pages feedback, see the link at the bottom. The report sets out a series of recommendations aimed… Read More »2020-06-doc4 High Level Forum-CMU report misses the mark
COVID-19 – Legislación de emergencia en materia de insolvencia y reestructuraciones (‘COVID-19 emergency legislation in insolvency and restructuring law’) written by Stephan Madaus and me has been translated in Spanish for the Spanish Insolvency Law Journal, with the following texts and summaries: Stephan Madaus, Profesor de Derecho Civil, Procesal y de Insolvencia, Universidad Martin-Luther de Halle-Wittenberg. Bob Wessels, Profesor emérito… Read More »2020-06-doc3 COVID-19 – Legislación de emergencia en materia de insolvencia y reestructuraciones
Oxford University Press has published the edited volume based on the European Law Institute’s (ELI) project ‘Rescue of Business in Insolvency Law’. The project ran from 2013 to 2017 under the auspices of the ELI. It was conducted by professor Bob Wessels (emeritus University of Leiden) and professor Stephan Madaus (Martin Luther University of Halle-Wittenberg). They were assisted by Gert-Jan… Read More »20220-06-doc2 Publication of book on Rescue of Business in Europe
Gert-Jan Boon (PhD Leiden University) presents the latest news: WHOA: Dutch Parliament adopts new pre-insolvency restructuring proceeding Gert-Jan Boon (Leiden University) Parliamentary discussions on the Wet Homologatie Onderhands Akkoord (Act on the Confirmation of Extrajudicial Restructuring Plans, WHOA) concluded today with its adoption. The legislative process that started some seven years ago has taken an important step forward. This is… Read More »2020-05-doc10 – WHOA gets nod in Dutch Parliament
ICR corona 17-3-1 This editorial makes a call to practitioners, scholars and regulators to adopt an agenda for future research, and a call to global financial institutions to fund and further such research. It will appear shortly, in: 17 International Corporate Rescue 2020, Issue 3, published by Chase Cambria Publishing (www.chasecambria.com). The topic we all understand, wherever we are, walking… Read More »2020-05-doc6 Coping collectively with COVID-19
Digital financial assets, more particularly cryptocurrency, may serve fast, cheap, easy to use and global payments. They also represent regulatory concerns and financial stability implications. A robust (but costly) supervisory system needs to be put in place. Such a system may however play a defensive game. A segment in this area is depositing cryptocurrency with cryptocustodians, such as crypto-exchanges. From… Read More »2020-05-doc5 Private law issues re cryptocurrency and custodians
Brexit has been overshadowed by the COVID-19 monster, but it is still a reality. In the book ‘Brexit and financial regulation’ a practical guidance is provided on the complexities of Brexit as it applies to financial institutions. It presents a detailed account of the myriad of laws, regulations and institutional opinions, such as those from the European Banking Authority and… Read More »2020-05-doc3 Brexit and the financial industry